Payday Loans: Why They Hurt More Than They Help

Kate Robinson
Greater Nevada Credit Union
We’ve all been there. Things are tight already, you have no idea how you’re going to pay this month’s bills, and while you’re driving to work (mentally calculating the risks of living off of ramen noodles) the transmission falls out of the car, causing you to swerve into a construction zone where nails pop three of your tires. Okay, maybe we haven’t been there exactly, but most of us know the feeling of panic when unexpected bills start piling up. The temptation to run to the nearest payday lender (just to get us through until next payday of course) can be overpowering. But before you head down that road, let’s take a look at payday loans, and find out if there are better options.

How to Become a Richer Nevadan

Marcus Wertz
Vice President of Consumer Lending

My job is to generate loans at Greater Nevada Credit Union, which means helping Nevada consumers borrow more money. You might not think that borrowing more money and getting richer are two things that go together, because building wealth is all about saving and investing, right?